Consultant Bill Boyajian urges colored gem sector to compete with manmade diamonds
By David Brough
BANGKOK, October 13, 2019 – Well known industry consultant Bill Boyajian urged the colored gemstone sector to compete with manmade diamonds which he said were “stealing the diamond dream.”
“There is an opportunity to replace manmade diamonds with rubies and sapphires,” Boyajian told the ICA (International Colored Gemstone Association) Congress in a keynote address.
He later told Jewellery Outlook that now was a good time for colored gems to compete with manmade diamonds, but if the price of manmade diamonds continues to fall, they would become cheaper than precious color gemstones, such as rubies and sapphires, and fall into the fashion jewellery segment.
“Manmade diamonds are stealing the diamond dream and market share from the natural diamond industry,” Boyajian said.
“Manmade diamonds are a huge threat to the natural diamond industry.”
Boyajian said that one opportunity for colored gems to compete with manmade diamonds was in the engagement ring category.
“We don’t talk about love, history and tradition with color gemstones,” he said, urging retailers to offer color gemstones in their engagement and bridal offering.
“I would mount rubies and sapphires in engagement ring settings,” he said.